Registered number
02715933
Nectar Patisserie Limited
Filleted Accounts
31 May 2023
Nectar Patisserie Limited
Registered number: 02715933
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 45,435 50,035
Current assets
Stocks 115,314 79,495
Debtors 4 110,158 215,965
Cash at bank and in hand 15,486 15,711
240,958 311,171
Creditors: amounts falling due within one year 5 (229,150) (195,479)
Net current assets 11,808 115,692
Total assets less current liabilities 57,243 165,727
Creditors: amounts falling due after more than one year 6 (39,233) (32,500)
Net assets 18,010 133,227
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,910 133,127
Shareholders' funds 18,010 133,227
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kypros Constantinou
Director
Approved by the board on 20 February 2024
Nectar Patisserie Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 31 24
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 555,137 7,500 562,637
Additions 3,586 - 3,586
At 31 May 2023 558,723 7,500 566,223
Depreciation
At 1 June 2022 505,270 7,332 512,602
Charge for the year 8,018 168 8,186
At 31 May 2023 513,288 7,500 520,788
Net book value
At 31 May 2023 45,435 - 45,435
At 31 May 2022 49,867 168 50,035
4 Debtors 2023 2022
£ £
Trade debtors 85,846 191,451
Other debtors 24,312 24,514
110,158 215,965
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 28,106 21,822
Trade creditors 178,732 148,937
Corporation tax 18,019 25,197
Other taxes and social security costs (3,345) (6,536)
Other creditors 7,638 6,059
229,150 195,479
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank and Other loans (secured) 39,233 32,500
7 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its directors by virtue of their ownership of the company’s entire issued share capital.
8 Other information
Nectar Patisserie Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 Leeside Industrial Estate
Garman Road
London
N17 0QH
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